Fly Intel: Top five weekend stock stories - InvestingChannel

Fly Intel: Top five weekend stock stories

Catch up on the weekend’s top five stories with this list compiled by The Fly: 1. Johnson & Johnson (JNJ) and its U.S.-based Janssen Pharmaceutical Companies announced a settlement agreement with the State of New York and its participating subdivisions, including Nassau County and Suffolk County, resolving their opioid-related claims against the company. With this agreement, the company is removed from the trial scheduled to begin in Suffolk County on June 28, J&J stated. The settlement will provide New York and its participating subdivisions with up to $263M in funding to address opioid related issues, as well as reimbursement for attorney fees and costs. 2. Brookfield Business Partners (BBU) together with institutional partners announced an agreement to acquire Modulaire Group for approximately $5 billion. Brookfield’s investment will be funded with approximately $1.6 billion of equity. Brookfield Business Partners intends to fund approximately $500 million, with the balance being funded by institutional partners. Prior to or following closing, a portion of Brookfield Business Partners’ commitment may be syndicated to other institutional investors. Closing of the transaction remains subject to customary closing conditions including regulatory approvals. Closing is expected by the end of 2021. 3. Investors are waiting for more consumers to return and worry about the risks created by a shortage of workers, with those concerns weighing on shares of Olive Garden parent Darden Restaurants (DRI), whose stock dropped 12% from March 26 through June 18, Ben Levisohn wrote in this week’s edition of Barron’s. They may have been overblown, the author contended. The risks are still there-commodity prices are rising, and labor costs are rising even faster-but the company should have the ability to raise prices to compensate, the author argued, adding that Darden also said that it expects there to be 10% fewer restaurants than before the pandemic, which means it could gain market share. 4. Comcast (CMCSA) subsidiary Universal’s “F9” won this weekend’s box office with a $70M debut, a pandemic-era record for North America and the biggest domestic opening since “Star Wars: The Rise of Skywalker” in December 2019. Globally, the ninth installment in the Fast and Furious saga crossed $400M. 5. Chart Industries (GTLS), Hertz Global Holdings (HTZGQ), NMI Holdings (NMIH), Essent Group (ESNT) and MGIC Investment (MTG) saw positive mentions in this week’s edition of Barron’s.

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